Bitcoin offline transaction like fiat money?

harizen

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Quote from: CryptoCoin8487 on December 25, 2017, 09:32:22 PM

We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.

A virtual thing can't fully lived outside internet so no it's not possible for bitcoin for now. It needs lots of technical aspects to make it possible and in the first place, bitcoin was not designed for that so I wonder it would be developed.

Instead of thinking that scenario, make an adjustment instead. Just teach your friends how to used internet and I think soon they will interact themselves at internet soon. Not just all about bitcoin or crypto thing but internet have many used so definitely it's a must that your friends must learn how internet works. It was also used on school so obviously they will really encounter using internet.

felipe04

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Nothing are impossible so it can but i think if this is offline it can't connect in different country and a lot of transaction will not good in that time because we pay here to transact money so if this is offline no one can fix the transaction and that is no fee so it's hard for the offline transaction but still it can happen,Moreover internet is good now so even it's online and has fee i think it's ok now.

AVAMONEY

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Quote from: CryptoCoin8487 on December 25, 2017, 09:32:22 PM

We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.

Bitcoin are digital currency which can be access required online connection at now. Even it's nothing impossible there could be any tools or program that can adjust requirement which not needed internet connection for doing transaction with Bitcoin method in future. For now, on some countries there are available ATM Bitcoin's, this means Bitcoin has produce as debit card which can be using as offline transactions for cash. It is still need electricity and internet connection for accessing but at least can reach to around the regions.

dmamigo

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Like why? Is it necessary? Bitcoin or other coins were meant to be existing with the benefit of being online with new technology. So why make it offline, and probably it will not be possible unless its physical version or paper version is released which will destroy the USP of this technology.

pikecara

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You need to generate a validation that can be run on two devices simultaneously (something like NFC) however that validation should be posted on a blockchain somehow, that can only be done by being connected to the network, unless a wireless network protocol (like cellphone networks) is created where data can be uploaded to the blockchain i dont believe crytpo transactions withotu internet will ever be possible.

adzino

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Quote from: CryptoCoin8487 on December 25, 2017, 09:32:22 PM

We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.

Nope. This is not possible and I don't think it will ever be. All transactions are to be made online. If both of you are offline, how will the two users, the receiver and the sender connect? How will the transaction take place if no connection is created between the two users? How will the blockchain update and your transactions be included if you are offline?

buytheeffinD

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Yeah probably one day I can see that happening but not at least for a few years here. TenX is running a protocol called COMIT in which they attempt to be able to swap funds offline I don't see why Bitcoin Core with all their resources couldn't complete the same vision.

Skieleton

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Quote from: pooya87 on December 25, 2017, 11:26:58 PM

no it is impossible to transfer bitcoin offline. you can create a transaction offline, sign it and everything (that is how cold storage works) but eventually to "transfer" you need to broadcast that signed transaction over the peer to peer network.

it is like asking "if there was no internet/phone connection in the shop, can i still use my credit card?". you obviously can not. the pos machine needs to connect to the bank servers and check your balance and transfer your money so that you can make the purchase.

I agree, but that does not mean that it will not be possible in the future. As if wallet offline recorded transactions? Something like checks.

Tamim121

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Bitcoin offline transaction is not possible. Because bitcoin is totally internet based and it is globally connected by internet. But in future may be it can possible.

loaddebitcard

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It's hardly possible. As it was said above there is an option like offline wallet, but it should be later connected to Internet anyway. Cryptocurrencies can make transactions offline, but then wallets need connection to implement transaction information into the system.

tony kurniawan

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Quote from: CryptoCoin8487 on December 25, 2017, 09:32:22 PM

We all know that today is modern day and almost all people already using internet around the world. Do guys have any idea that someday bitcoin can transact offline? I was asking this question because i have some friends out there who still not yet using internet until now.

to be able to connect and to conduct transactions it must be with the internet. Because Bitcoin is a digital currency in which its use must be online.

Rana590

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Transaction Bitcoin in offline it totally impossible. Bitcoin is made on internet based. For globally connection with it internet is the most important element. But in future, it can be possible. Till now there is no chance to transfer Bitcoin in offline.

newgal2017

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Bitcoin has been born from the internet. Internet is essential in using Bitcoin for it is the medium that connects it and give access to the digital world. Bitcoin, beginning from the internet has a purpose and that is to retain its transparency wherein even if Bitcoin users are protected because of their accounts anonymity their transactions would be still recorded to the blockchain network while their identities are hidden.

In this modern world that we live in, the potential of technology that could make up to anything is really incredible so, I think it is possible for us to be able to do Bitcoin transactions offline but is also produce and empowered by the wonders of technology.

icanscript

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Internet, it's just a combination of different local networks and servers. I'm sure that communication between them can be provided in other ways. Yes, it can be longer and not so reliable, but real.

Betwrong

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I think there is a possibility of dealing with Bitcoin offline. Imagine you have a wallet with $200 worth of BTC and you want to sell the amount to your friend but you don't want to pay the ridiculously high transaction fee while doing that. So what you can do is taking $200 from your friend giving him full access to the wallet. Thus he would receive BTC and you would receive USD although the deal was made offline.

Heyyyrenz

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I get your point, It's a really good idea if thats gonna happen but i think it's possible since the bitcoin is only accessible through internet and all your transaction will be written in the blockchain. If you're wondering "why not?" just try to look how things work or how the transaction works check this link: https://bitcoin.org/en/how-it-works

One of the features of bitcoin is the transparency of the transaction, even though you're anonymous online the transaction will be written publicly in the blockchain network.

Twentyonepaylots

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I think bitcoin will be useless if we can use it without internet, because bitcoin or cryptocurrency solely depends on the internet and it is born from the internet, so what would be the point if we try to use it without internet? the purpose will be useless

amzadabir

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Offline transaction to impossible. Transaction to the course of the Internet connection take. It's not if it is not possible.

AGD

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How can a transaction, that HAS to be sent to another server to be confirmed, turn out to be valid for a network without the connection to another server?
Answer: Not possible!

Now what is possible is the following:
The internet will be accessible for everyone on every corner on this planet, through satellites.
Cellphones will be affordable by almost everyone, because they are practically given away for free.

nareshrohra

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There are 2 projects working on that front.

1. Using radio waves for transaction: One of the efforts in 2014 was done to transfer bitcoin transactions via radio waves in Finland. The project is still undergoing
2. Child chain: essentially, do transactions on a small closed network (intranet maybe?) and then send to the global network at regular interval (once an hour, day etc). https://www.ardorplatform.org/

Topic: Bitcoin offline transaction like fiat money? (Read 297 times)